The Gorilla Summit was an intimate event, as far as retail conferences go. For those that aren’t familiar, Gorilla Group is an extremely functional ecommerce implementation partner, and host a high-quality annual summit. We were privileged to attend keynotes from Magento, SAP/hybris, and Forrester, which were full of insights about the direction of mobile commerce and customer relationships in the years to come.
Our keynote highlights are summarized below.
Peter Sheldon, VP Strategy at Magento
Trailblazing a New Path to Digital Engagement
We know Millennials shop differently. When it comes to electronics, they are more likely to shop on Amazon than at Wal-mart, because they are guaranteed availability and have easy access to peer reviews on a diverse assortment of products. They prefer direct-to-consumer brands to retailers, even though they are often more expensive. The root of this is the value Millennials place on experience as opposed to price point. For retailers to succeed with Millennials, they will need to find inventive ways to engage and deliver with their customers. They have to adopt an “everywhere is a store” mentality, and offer a unique customer experience.
Brian Walker, Chief Strategy Officer for SAP/hybris
From Systems of Record to Systems of Engagement
Mobile and digital are the biggest “front door” to a company, and customers reward companies that take a contextual approach to the digital experience. Traditional customer relationship management is also losing effectiveness because it’s based on descriptive analytics rather than context. Customers are also responding to efficiency and knowledge over loyalty programs. The popularity of Amazon Prime (around 55 million users) shows that people are willing to pay for a top tier experience as opposed to earning it with points. Email is also dying, and retailers need new ways to engage. Context is the greatest tool here, but it must be leveraged in real time. Mobile phone users must be able to convert quickly when their attention is captured.
Andy Hoar, Principal Analyst, B2B Commerce
B2B eCommerce and Digital Transformation
It’s not just the B2C world that’s undergoing a transformation – B2B is also starting to see disruption, in part thanks to Amazon. The upside is that ecommerce in B2B is basically non-existent, leaving a lot of greenspace in a segment that is actually larger than B2C. In many cases, B2B is still operating the same way it was 20 years ago, but that’s expected to change over the next two years. B2B marketers need to deliver content in a similar way to B2C, prioritizing personalization capabilities and leveraging proven ecommerce platforms.